Russia and Uzbekistan outline new phase of economic cooperation at intergovernmental commission meeting

Russia and Uzbekistan have confirmed a renewed framework for economic cooperation following the 26th meeting of their Intergovernmental Commission on Economic Cooperation, co-chaired by Russia’s First Deputy Prime Minister Denis Manturov and Uzbekistan’s Deputy Prime Minister Jamshid Khodjaev. This is reported by the official website of the Russian Government.

According to official data, bilateral trade exceeded US$10 billion in 2024, increasing by more than 5 per cent, while mutual trade grew by a further 8 per cent in the first nine months of 2025. Both export and import flows continue to demonstrate stable growth, reflecting an expanding economic partnership.

Russian First Deputy Prime Minister Denis Manturov highlighted the steady development of investment ties, noting that the joint portfolio of projects, valued at around US$55 billion, remains on track for implementation. More than 3,000 enterprises with Russian participation now operate in Uzbekistan, accounting for roughly one-fifth of all foreign-capital companies in the country. Manturov also reported an increase in industrial cooperation, including the localisation of production and the expansion of joint industrial zones, where over 30 resident companies from various countries are currently operating.

Energy collaboration remains a key priority, with ongoing work in resource supplies, geological exploration, mining, and hydropower. Construction activities have begun on a nuclear power project in the Jizzakh region, marking a significant step in long-term strategic cooperation.

The two countries also emphasised the importance of cultural, educational and humanitarian exchange. More than 56,000 Uzbek students are enrolled in Russian universities and their local branches, with both sides aiming to expand academic and tourism linkages.

Uzbekistan’s Deputy Prime Minister Jamshid Khodjaev stated that Russia remains one of Uzbekistan’s key economic partners, with over 3,100 enterprises involving Russian capital currently registered in the country. Between January and October 2025, Russian investment in the Uzbek economy reached US$4 billion. He stressed the importance of coordinated interministerial work, consistent monitoring of joint projects and the creation of favourable conditions for business cooperation.

At the conclusion of the meeting, the commission’s co-chairs signed the protocol of the 26th session and a 2025–2030 roadmap aimed at enhancing interregional cooperation. Additionally, a memorandum of understanding was signed between relevant Russian and Uzbek institutions to support further sectoral collaboration.

The officials also attended a plenary session of the Russia–Uzbekistan Business Forum, which brought together more than 50 representatives from Russian industry, energy, logistics and digital sectors.

Photo:  official website of the Russian Government